Barometers reverse losses; consumer durables witnesses buying demand

The domestic equity indices pared early losses and traded with minor gains in the morning trade. The Nifty traded above the 23,400 level. Consumer Durables shares extended gains for the eighth consecutive trading sessions.

At 10:29 ST, the barometer index, the S&P BSE Sensex, was up 84.17 points or 0.11% to 76,895.79. The Nifty 50 index rose 37.75 points or 0.16% to 23,436.65.

In the broader market, the S&P BSE Mid-Cap index added 0.73% and the S&P BSE Small-Cap index gained 0.97%.

The market breadth was positive. On the BSE, 2,237 shares rose and 1,116 shares fell. A total of 128 shares were unchanged.

Buzzing Index:

The Nifty Consumer Durables index added 1.11% to 37,948. The index surged 10.91% in the eight consecutive trading sessions.

Dixon Technologies (India) (up 4.83%), Blue Star (up 3.39%), Century Plyboards (India) (up 2.99%), Rajesh Exports (up 1.88%), Amber Enterprises India (up 1.43%), Kalyan Jewellers India (up 1.32%), Titan Company (up 0.65%), Cera Sanitaryware (up 0.49%), Havells India (up 0.03%) and V-Guard Industries (up 0.01%) edged higher.

On the other hand, Kajaria Ceramics (down 0.72%), Whirlpool of India (down 0.7%) and Voltas (down 0.47%) slipped.

Stocks in Spotlight:

National Aluminium Company (NALCO) rallied 3.54% after the company said that it has executed a mining lease deed with the State Government of Odisha for an area spread over 697.979 hectares for Bauxite Mines in Pottangi Tehsil, Koraput district.

DCX Systems jumped 4.10% after the company received an order worth Rs 32 crore from domestic and overseas customers to supply cable and wire harness assemblies.

Shipping Corporation of India added 1.78% after the NITI Aayog gives in-principal approval for the formation of a wholly-owned subsidiary in GIFT City.

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